How MDB Taxation and Business Advisors Can Help You

As a small business owner, you need reliable and accurate financial statements to understand your company’s performance, plan for the future, and comply with various regulations. At MDB Taxation and Business Advisors, we follow standard accounting procedures to provide full annual financial statements and reports for businesses of all industries in Australia. We are experts in Australian accounting practices and tax laws, and we can help you save time, money, and hassle by taking care of your accounting and tax needs.

What Do Our Financial Statements Include?

Our financial statements include but not limited to:

  • A balance sheet that provides a snapshot of your company’s financial health at a specific point in time. It shows the value of your assets, liabilities, and owner’s equity.
  • An income statement that shows the revenue and expenses of your company over a period of time. It reveals your profit or loss for the year.
  • A cash flow statement that shows the changes in the amount of cash moving in and out of your business over a period of time. It indicates how well you can meet your short-term cash obligations.
  • A statement of retained earnings that shows the changes in your company’s equity over a period of time. It reflects how much of your profit is reinvested in the business or distributed to the owners.

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Why Do You Need Financial Statements?

Financial statements are essential for various purposes, such as:

  • Applying for a loan or credit facility from a bank or other lender. They will require this information to assess your creditworthiness and repayment capacity.
  • Dealing with a government agency that may request this information to verify your income, asset ownership, and liability exposure.
  • Attracting investors or buyers who may want to evaluate the financial health and value of your business.

How Do We Prepare Financial Statements?

We prepare annual financial statements and reports by following the latest reporting standards accepted by both GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards). These are the common frameworks used by businesses around the world to ensure consistency and comparability.

To give you more confidence, we can also provide a detailed schedule, reconciliation, and analytical review performed against the reviewing party. This process of evaluation and analysis can help your business stay on track and in control of its finances. Our professional accountant will examine your business’s financial situation thoroughly and give you advice on how to reduce costs, manage investments, and increase profit margins.

Why Choose MDB Taxation and Business Advisors?

MDB Taxation and Business Advisors is dedicated to helping small business owners by offering Melbourne Financial Statements. We take over their accounting and tax responsibilities to free up their time so they can focus on growing their businesses. We are a market leader in business services in and around the Melbourne metropolitan area